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Dynacor Group Announces Upsize to Previously Announced Public Offering to up to C$27.5 Million
Dynacor Group Announces Upsize to Previously Announced Public Offering to up to C$27.5 Million ...
About this update from Dynacor Group Inc
[{"type":"text","content":"\n\n\n\n Dynacor Group Announces Upsize to Previously Announced Public Offering to up to C$27.5 Million\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n /NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n\n\n\n MONTREAL\n \n\n ,\n \n\n Jan. 31, 2025\n \n\n /CNW/ -\n \n Dynacor Group Inc.\n \n (TSX: DNG)\n \n (\"Dynacor\" or the \"Corporation\"),\n \n is pleased to announce that, in connection with its previously announced \"best effort\" agency offering (the \"Offering\"), it has entered into an amended and restated agreement with Canaccord Genuity Corp. (the \"Sole Agent\") pursuant to which the Corporation and the Sole Agent have agreed to upsize the Offering to up to a total of 5,000,000 common shares of the Corporation (\"Common Shares\") at a price of\n \n C$5.50\n \n per Common Share (the \"Issue Price\") for total gross proceeds of up to approximately\n \n C$27.5 million\n \n .\n \n\n The Sole Agent has been granted an option (the \"Over-Allotment Option\") by the Corporation to offer and sell up to an additional number of Common Shares as is equal to 15% of the number of Common Shares issued pursuant to the Offering at the Issue Price. The Over-Allotment Option may be exercised in whole or in part to purchase Common Shares as determined by the Sole Agent upon written notice to the Corporation at any time up to 30 days following the Closing Date (as defined below).\n \n\n The Corporation intends to use the net proceeds of the Offering mainly for the construction and development of a new ore processing plant in Sénégal, secondly for preparatory construction work on additional processing plants in\n \n Africa\n \n , other opportunities in\n \n Latin America\n \n , as well as for working capital and for general corporate purposes.\n \n\n A prospectus supplement to the Corporation's short form base shelf prospectus dated\n \n January 28, 2025\n \n , will be filed by no later than\n \n February 3, 2025\n \n with the securities regulatory authorit...